Analysts Expect Martin Midstream Partners L.P. (MMLP) Will Post Quarterly Sales of $289.71 Million

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Wall Street brokerages expect that Martin Midstream Partners L.P. (NASDAQ:MMLP) will post sales of $289.71 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Martin Midstream Partners’ earnings, with the highest sales estimate coming in at $301.00 million and the lowest estimate coming in at $278.41 million. Martin Midstream Partners posted sales of $305.74 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 13th.

According to Zacks, analysts expect that Martin Midstream Partners will report full year sales of $1.01 billion for the current year, with estimates ranging from $998.23 million to $1.02 billion. For the next financial year, analysts expect that the business will report sales of $1.06 billion, with estimates ranging from $1.01 billion to $1.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Martin Midstream Partners.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, October 24th. The pipeline company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.18). The business had revenue of $219.05 million during the quarter, compared to analysts’ expectations of $226.83 million. Martin Midstream Partners had a return on equity of 5.03% and a net margin of 6.19%.

A number of equities research analysts have weighed in on MMLP shares. BidaskClub upgraded shares of Martin Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Raymond James cut their price objective on shares of Martin Midstream Partners from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Zacks Investment Research upgraded shares of Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, October 31st. Royal Bank of Canada restated a “hold” rating and issued a $17.00 price objective on shares of Martin Midstream Partners in a report on Monday, July 16th. Finally, ValuEngine upgraded shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Martin Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $15.83.

MMLP traded up $0.17 during midday trading on Wednesday, reaching $12.52. The company’s stock had a trading volume of 205,299 shares, compared to its average volume of 223,408. The stock has a market cap of $487.95 million, a PE ratio of 28.45, a price-to-earnings-growth ratio of 55.56 and a beta of 1.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.03 and a current ratio of 2.28. Martin Midstream Partners has a 1 year low of $10.65 and a 1 year high of $16.95.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $2.00 annualized dividend and a dividend yield of 15.97%. Martin Midstream Partners’s dividend payout ratio is presently 454.55%.

Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP lifted its stake in shares of Martin Midstream Partners by 198.2% in the second quarter. GSA Capital Partners LLP now owns 107,965 shares of the pipeline company’s stock worth $1,490,000 after buying an additional 71,765 shares in the last quarter. PVG Asset Management Corp lifted its stake in shares of Martin Midstream Partners by 35.8% in the second quarter. PVG Asset Management Corp now owns 45,900 shares of the pipeline company’s stock worth $633,000 after buying an additional 12,100 shares in the last quarter. Rational Advisors LLC lifted its stake in shares of Martin Midstream Partners by 35.8% in the second quarter. Rational Advisors LLC now owns 45,900 shares of the pipeline company’s stock worth $633,000 after buying an additional 12,100 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Martin Midstream Partners by 1.6% in the second quarter. OppenheimerFunds Inc. now owns 6,546,670 shares of the pipeline company’s stock worth $90,345,000 after buying an additional 101,718 shares in the last quarter. Finally, Endurance Wealth Management Inc. lifted its stake in shares of Martin Midstream Partners by 106.1% in the second quarter. Endurance Wealth Management Inc. now owns 13,600 shares of the pipeline company’s stock worth $188,000 after buying an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 28.91% of the company’s stock.

About Martin Midstream Partners

Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 22 marine shore-based terminal facilities and 16 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

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